BUSINESS OVERVIEW Our Business

Experience-based business brokerage and consulting

v Business Brokerage • Mergers and acquisitions • Divestitures • Joint Ventures • Strategic Alliances • Technology Alliances

v Consulting • Strategic Crop Genetics Development • Business Plan Development • Business Valuations

Crop Genetics Industry v Seeds v Field crops v Fruits & Vegetables v Horticulture v Ornamentals v Tree Crops v Biotechnology Crop Agribusiness v Agrochemical v Seed Treatments v Ag Inputs v Biologicals v Food and Feed Ingredients

Utilize industry management experience in executing client assignments Leverage long-standing industry relationships and professional contacts Focus on end result

v A transaction or strategy recommendation that is: • Equitable • Beneficial • Achieves client objectives

Principal Executives v Located across North America, Europe, and Australia v Expertise in varied business disciplines v Over 500 years of combined professional experience in all crops and phases of agribusiness v Each of our principals has executive management experience in leading agribusiness or financial companies ______Together we have initiated and managed hundreds of successful transactions and alliances.

Recognized as the leading business brokerage and consulting group for the crop genetics industry

Initiated and managed transactions and alliances valued at more than U.S. $2 billion

Respected advisors to privately held businesses, public corporations, multinationals, venture and buyout funds, and early stage technology companies throughout the world

Mergers & Acquisitions Divest a fresh produce company Divest a specialty food company Acquire an international vegetable seed co. Divest a cotton seed research and marketing co. Divest a global agronomic seed company Divest a research and development co.

Strategic Consulting Crop-specific business model development Market access plan for new product introduction Financial Guidance Technology value assessment and licensing Brazilian seed company Technology opportunities assessment U.S. Soybean breeding program Global seed strategy development North American seed production company and implementation Leading global vegetable seed company Multinational seed company U.S. cotton seed company

Dean V. Cavey Rod N. Stacey Thomas F. Hughes Managing Partner Partner Partner Illinois California Tennessee

v Over 30 years of experience v Over four decades of v 30 years of experience in in worldwide seed industry, experience in international seed and crop genetics horticulture, and agribusiness agricultural seed business, industry, seed production and business operations building entrepreneurial, v President of AgriCapital v President and CEO of Corporation, 1991 - 1998 research-based seed businesses Stoneville Pedigreed Seed Co, v President and COO of United 1992 - 2003 v President and COO of AgriSeeds, Inc., 1989 - 1990 Calgene, Inc., 1992 – 1996 v Director of Operations for v Vice President of Finance and Stoneville / Calgene, 1988-91 v President and CEO of Sun Administration of United v Cotton Production Manager Seeds Genetics, 1989 – 1992 AgriSeeds, Inc., 1983 - 1988 for Cargill Hybrid Seeds, 1984 – 1988 v Vice President of Finance at v Founding President and CEO Amfac Nurseries, 1977 – of United AgriSeeds, Inc., v Past Regional Vice President 1982 1981 – 1989 of American Seed Trade Association v Degree in agronomy and a v Degree in finance and v Degree in Agricultural accounting from Ohio diploma in economics from Reading University, United Sciences from Texas Tech University, Athens, Ohio Kingdom University, Lubbock, Texas

Philip P. Ashcraft Paul G. Bennett Don Goodwin Colorado Hawaii Minnesota

v Over four decades of agribusiness v Over 40 years of executive v 30 year veteran of the produce management experience in the experience in a variety of products industry; experience in global seed, horticulture, and crop and markets focused on procurement, wholesale, input industries international agribusiness marketing and merchandising

v Focus: Fresh produce, retail v Focus: Vegetables v Focus: Produce and agribusiness marketing, brand management

Alan R. Gould Mike A. Mazzocco Garrett L. Stoerger Texas Illinois Illinois

v Ph.D. in cell biology; research and v Ph.D. in agricultural economics v Experience with agricultural technology management in global with over 20 years experience as production operations, crop agriculture since 1975 a faculty member at two major agribusiness management, and universities; leads Verdant financial management v Focus: Breeding, germplasm, and Agribusiness Consultants trait discovery & development v Focus: food & agribusiness and v Focus: Financial analysis, row grain management, finance crops, production agriculture

Alan Williams David J. Palmer United Kingdom United Kingdom

v M&A, licensing, and consulting v Fully qualified English lawyer; experience in life science career devoted to managing and industries, including healthcare, advising companies involved in agrochemicals, animal breeding, international field crops business biotechnology, and seeds v Focus: Field crops – Europe v Focus: Europe

Howard C. Morris Lajos Zubek Australia Hungary

v A 35-year veteran of the global v Registration and production seed industry, with experience in experience with sunflowers, corn, multiple crops, production, soybeans, safflower, and rapeseed; logistics, and business development International experience in Latin America and Africa, as well as v Focus: Australia, New Zealand, Asia several countries in Europe Pacific Region v Focus: Central & Eastern Europe

United States Europe

David Palmer Don Goodwin Alan Williams

Dean Cavey Philip Ashcraft Mike Mazzocco Rod Stacey Garrett Stoerger Lajos Zubek

Bud Hughes

Alan Gould Australia Paul Bennett

Howard Morris

Headquarters Satellite Locations

301 N. Neil Street, Suite 305 Champaign, IL 61820 U.S.A.

Telephone: 217.359.8470 Facsimile: 888.217.3650 www.verdantpartners.com